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Process and product R&D by a multiproduct monopolist

โœ Scribed by Lin, P.

Book ID
115475309
Publisher
Oxford University Press
Year
2004
Tongue
English
Weight
76 KB
Volume
56
Category
Article
ISSN
0030-7653

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This paper studies a monopoly firm with the ability to conduct costly pre-market testing of its product in order to predict how safe this product is to consume. While there are private incentives to test, the amount of testing effort supplied by a monopolist need not be optimal. In a model which all